USD/CHF Price Analysis: Greenback off fresh 2020 highs, trades above 0.9800 figure


  • USD/CHF bulls are keeping the market above the 0.9800 figure.
  • The rising wedge pattern can limit extra gains on USD/CHF. 
 

USD/CHF daily chart

 
USD/CHF is easing after hitting new 2020 highs this Friday. The quote is trading below the 100/200-day simple moving averages suggesting an overall bearish bias.
 

USD/CHF four-hour chart

 
The market broke above the 0.9800 figure and the rising wedge upper trendline. If bulls maintain the market above the 0.9800 figure it would be considered a bullish sign which can lead to further gains towards the 0.9830 and 0.9850 levels. On the flip side, a daily close below the 0.9800 figure could see a re-integration of the wedge with a potential decline towards the 0.9770 level. 
 
 
 
Resistance: 0.9830, 0.9850, 0.9870
Support: 0.9800, 0.9770, 0.9730
 

Additional key levels

USD/CHF

Overview
Today last price 0.9803
Today Daily Change 0.0009
Today Daily Change % 0.09
Today daily open 0.9794
 
Trends
Daily SMA20 0.9717
Daily SMA50 0.9744
Daily SMA100 0.9836
Daily SMA200 0.9866
 
Levels
Previous Daily High 0.9796
Previous Daily Low 0.976
Previous Weekly High 0.9782
Previous Weekly Low 0.9629
Previous Monthly High 0.9768
Previous Monthly Low 0.9613
Daily Fibonacci 38.2% 0.9782
Daily Fibonacci 61.8% 0.9774
Daily Pivot Point S1 0.9771
Daily Pivot Point S2 0.9748
Daily Pivot Point S3 0.9735
Daily Pivot Point R1 0.9806
Daily Pivot Point R2 0.9819
Daily Pivot Point R3 0.9842

 

 

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